Evening volatility in SA, VIC, NSW and QLD on Tuesday 15th August 2023

A quick belated record of a spell of volatility* covering all 4 mainland regions of the NEM beginning 17:50 and running until 18:40 (so for 10 x dispatch intervals) on Tuesday evening 15th August 2023.

* as noted before, we’re looking at alerts for prices for ENERGY above $1,000/MWh in any region.

Here’s a snapshot from NEMwatch taken at 18:00 showing prices in three regions up towards the Market Price Cap (actually there, for NSW):



Quick notes, to correspond with the numbers above:

1)  We see at this time, that these prices were highest experienced that day.  They did not rise further (but did remain above $1,000/MWh for a period);

2)  This coincided with winter-style evening peak in Scheduled Demand

… though not huge (at only 28,177MW)

3)  This also coincided with a lull in VRE:

(a)  Solar has gone to bed; and

(b)  This coincided with wind harvest being relatively low (~ 600MW, so ~6% instantaneous Capacity Factor) across the NEM

4)  We also see the NEM-wide IRPM has dropped to 18% due to the somewhat tighter supply-demand balance:

(a)  Not low enough (i.e. <15%) to trigger our colour alerting

(b)  We’re just in the final stages of completing GenInsights Quarterly Update for 2023 Q2 for a client presentation on Friday;

(c)  But this level (under 20%) will be flagged for the next iteration of the report for 2023 Q3.

(d)  Incidentally note that the QLD region had a relatively tighter margin in its ‘Economic Island’ but was supplying exports to the NSW+VIC+SA ‘Economic Island’ with their 10x higher price.


Nothing further at this point …

About the Author

Paul McArdle
One of three founders of Global-Roam back in 2000, Paul has been CEO of the company since that time. As an author on WattClarity, Paul's focus has been to help make the electricity market more understandable.

Be the first to comment on "Evening volatility in SA, VIC, NSW and QLD on Tuesday 15th August 2023"

Leave a comment

Your email address will not be published.